Grit raises Kshs. 5B for acquisition of Orbit Africa facilities

Real estate company Grit has secured funding to conclude the acquisition and redevelopment of the Orbit Africa warehousing and manufacturing facility in Nairobi, on a sale and leaseback basis. The 5 billion shillings light industrial warehouse acquisition will be settled through a 2.5 billion shillings in senior debt finance negotiated with the International Finance Corporation and another 2.5 billion shillings through a perpetual note issuance.


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